The Indian stock market may consolidate due to muted global cues, with the S&P BSE Sensex dipping nearly 300 points on Thursday putting the Nifty50 below 18,800. The India VIX had an increase of 2.28% from 11.29 to 11.54 on Thursday, with volatility climbing out of its range on the daily frame. Recommendations from various experts included selling United Spirits and Gujarat Gas, or buying Balrampur Chini Mills and L&T, with an immediate trading range of 18,650 to 18,900, suggests analyst Chandan Taparia.
Pakistan's higher education watchdog on Thursday withdrew a letter raising objections over the celebration of the Holi festival at a university here after a backlash on social media and intervention by the government. Shaista Sohail, the executive director of the Higher Education Commission (HEC), had issued a letter taking exception to the celebration of the festival by the students of Qaudi Azam University in Islamabad. However, the letter invited a barrage of attacks on social media with many people asking about the academic performance of the HEC and suggesting to improve it instead of correcting the morals of the people. Salman Sufi, the head of the Prime Minister's Strategic Reforms Unit, clarified that Education Minister Rana Tanveer Hussain had instructed the HEC to retract its controversial letter. According to a statement by Sohail, the HEC was highly respectful of all religions, faiths, and beliefs, and the associated festivals and celebrations observed in the country.
Bengaluru-based Greenchef Appliances, an SME specialising in kitchen appliances, will launch its initial public offering (IPO) on 23 June, closing on 27 June. The IPO offers 6,163,200 equity shares, priced between 82 and 87, and is expected to raise up to 53.62 crore.
